1. Calculate the cost of each unit using absorption costing. Round your final answer to the nearest cent. $fill in the blank b6b28a02dfb1037_1 per unit 2. How many units remain in ending inventory? fill in the blank b6b28a02dfb1037_2 units What is the cost of ending inventory using absorption costing? $fill in the blank b6b28a02dfb1037_3 Question Content Area 3. Prepare an absorption-costing income statement for Pattison Products, Inc., for the month of October. Pattison Products, Inc.Absorption-Costing Income StatementFor the Month of October $- Select - - Select - Gross profit $fill in the blank 94481a02ffb1037_5 Less: - Select - - Select - Operating income $fill in the blank 94481a02ffb1037_10 Question Content Area 4. What if November production was 49,000 units, costs were stable, and sales were 50,000 units? What is the cost of ending inventory? $fill in the blank e464c9f9b004040_1 What is operating income for November?
Absorption Costing, Value of Ending Inventory, Operating Income
Pattison Products, Inc., began operations in October and manufactured 49,000 units during the month with the following unit costs:
| Direct materials | $5.00 |
| Direct labor | 3.00 |
| Variable |
1.50 |
| Fixed overhead* | 7.00 |
| Variable marketing cost | 1.20 |
* Fixed overhead per unit = $343,000 / 49,000 units produced = $7
Total fixed factory overhead is $343,000 per month. During October, 46,700 units were sold at a price of $25.00, and fixed marketing and administrative expenses were $120,200.
Required:
Question Content Area
1. Calculate the cost of each unit using absorption costing. Round your final answer to the nearest cent.
$fill in the blank b6b28a02dfb1037_1 per unit
2. How many units remain in ending inventory?
fill in the blank b6b28a02dfb1037_2 units
What is the cost of ending inventory using absorption costing?
$fill in the blank b6b28a02dfb1037_3
Question Content Area
3. Prepare an absorption-costing income statement for Pattison Products, Inc., for the month of October.
|
|
$- Select - |
|
|
- Select - |
| Gross profit | $fill in the blank 94481a02ffb1037_5 |
| Less: | |
|
|
- Select - |
|
|
- Select - |
| Operating income | $fill in the blank 94481a02ffb1037_10 |
Question Content Area
4. What if November production was 49,000 units, costs were stable, and sales were 50,000 units? What is the cost of ending inventory?
$fill in the blank e464c9f9b004040_1
What is operating income for November?
$
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